Agri Picks Report March 01, 2024: Geojit

commodities

Geojit's report on Daily Agri Picks

The Centre has set the wheat procurement target for 2024-25 rabi marketing season beginning in April at 30-32 mln tn, the Ministry of Consumer Affairs, Food & Public Distribution, said in a press release today. Similarly, rice procurement during kharif marketing season 2023-24 for the rabi crop (Oct-Sep) is fixed at 9.0-10.0 mln tn, it added. On Wednesday, Food Secretary Sanjeev Chopra met with state food secretaries in New Delhi to discuss and deliberate procurement arrangements. Various factors impacting procurement such as forecast of weather conditions, production estimates, and readiness of states were reviewed, the release said. The government aims to procure 600,000 tn coarse grains during the kharif marketing season 2023- 24 to diversify crops and enhance nutrition in dietary patterns. During the meeting, state governments were advised to improve transparency and efficiency in the procurement system, before the start of kharif marketing season 2024-25. Supply chain issues while transporting foodgrains from designated depots to fair price shops, improving infrastructure in procurement centres, good milling practices, and on-boarding fair price shops on the Open Network for Digital Commerce platform were also discussed, the release said. Farmers in Andhra Pradesh have sown rabi crops over 1.67 mln ha as of Wednesday, down 10% from the same period a year ago, according to state government data. So far, 2.2 mln ha of land has been used to sow crops out of the targeted area of 2.3 mln ha for the season, the data showed. The acreage of Bengal gram was down 9% on year at 301,000 ha, the data showed. The area under black gram, also known as urad, was down 5% on year at 265,000 ha from 278,000 ha last year, the data showed. The area under pulses was down 6.5% on year at 667,000 ha. Bengal gram, black gram, maize, and peanuts are the major rabi crops grown in the state. Farmers in Andhra Pradesh have sown paddy over 562,000 ha as of today, down from 651,000 ha in the previous year. The targeted area for the crop is 820,000 ha in the current season. Jowar's acreage was up at 96,000 ha from 58,000 ha a year ago, the data showed. Maize was sown over 151,000 ha, lower than 236,000 ha in the previous year. The area under food grains was down at 1.49 mln ha from 1.67 ha a year ago. Area under coarse grain cultivation was at 259,000 ha, down from 303,000 mln ha in the previous year. Oilseed acreage fell to 103,000 ha from 119,000 ha a year ago, according to the report. The target for oilseeds is 142,000 ha for the current season. Groundnut was sown over 68,000 ha, lower than 93,000 ha a year ago. The water level in major reservoirs in the state as of Wednesday was 223.95 bln cu ft, down from 436.94 bln cu ft a year ago, according to government data.

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